Asia to power global trade growth

Asia will be the primary driver of global trade growth for years to come, according to a new report from HSBC.

China, India and Vietnam are among the best positioned, with exports expected to post double-digit annual increases for decades.

The pattern of global trade will be increasingly influenced by the rapidly growing Asian economies, whose exports and imports will continue to grow strongly," the report says.

Overall, global trade is forecast to increase by 5% in 2013 before jumping to annual rates of 6% to 7% until 2016.

But stumbling blocks remain. Europe is mired in a debt-induced funk, and the continent's growth prospects remain weak. Simon Constantinides, regional head of trade and receivables finance for HSBC, said that Europe's fiscal situation is one of the biggest risks examined by the bank.

Read Full Article from CNNMoney

- Posted: 2012-11-12 14:41:49

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